Business Standard

LIC launches new child policy

Related News

of India has launched a new product called in the child plan space that aims to meet educational and other needs of children. In case of death of the policyholder, the new policy pays the total sum assured (SA) to the nominee, which is 10per cent of the SA payable every year till the end of policy term.

If the policyholder survives the policy term, the product will pay maturity benefit of SA along with loyalty bonus. The minimum and maximum age of policyholder can be 18 and 50 years, respectively. Maximum maturity age is 75 years. Minimum and maximum age of child is in the range 0-17 years.

The maximum policy term is 25 minus age of the child. The minimum sum assured is Rs 1 lakh while there is no upper limit.

Read more on:   
|

Read More

Single-premium life insurance policies under regulator's lens

After highest net asset value (NAV) guaranteed products, the single premium, two-year premium and three-year premium policies are the latest life ...

Quick Links

More news from Finance Rss icon

Forex reserves rise to $317 bn

The country's foreign exchange reserves rose to $316.83 billion as of December 12, compared with $314.66 billion a week earlier, the Reserve ...

Life insurers seek separate tax deduction limit of Rs 1.5 lakh

It will encourage long-term savings and help incremental flows come into life insurance sector, says LIC

Organ donation now part of larger health policies

With organ transplants gaining popularity, insurers are now offering to cover expenses

Back to Top